Brisbane, May 3, 2017 AEST (ABN Newswire) - Central Petroleum Limited's (ASX:CTP) (OTCMKTS:CPTLF) ("Central" or "Company") joint venture partner, Santos QNT Pty Ltd ("Santos"), has exercised its option to acquire a 50% participating interest in and be appointed operator of EP(A)111 and EP(A)124. Santos' option to acquire this interest was granted as part of Central's acquisition of a 50% interest in the Mereenie Oil & Gas Field announced to the ASX on 4 June 2015.

The EP(A)s are located in the Southern Amadeus Basin and adjacent to existing Santos operated areas in joint venture with Central. Central will retain a 50% participating interest in these EP(A)s.

About Central Petroleum Limited

Central Petroleum Limited (ASX:CTP) (OTCMKTS:CPTLF) is an oil and gas explorer and producer listed on the Australian Securities Exchange focused on supplying the domestic gas market. Central is advancing several separate projects across what is regarded as the biggest package of proven and prospective oil and gas acreage across central Australia. This spread of assets gives Central multiple options for growth and development. 88% of this land being gas prone has led to the Company's focus on becoming a major domestic gas producer.